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Customs duty on cotton imports disappoints textile sector Updated: Updated: ‘It will make import of branded cotton expensive’ Share Article ‘It will make import of branded cotton expensive’ The textile and clothing sector here has expressed disappointment over the levy of customs duty on cotton imports in the Union Budget. Manoj Patodia, chairman of the Cotton Textiles Export Promotion Council, said that the plan to establish seven mega investment textile parks in three years was a positive step towards making the industry globally competitive. It would attract investments and boost...

Union Budget 2021: What it offers the automotive industry Updated Feb 02, 2021 | 13:30 IST The Indian government announced budget 2021 yesterday. For the country's automobile industry, what did it bring forth? Read on to see. Union Budget 2021: What it offers the automotive industry  Well, yesterday was quite hectic for the country, thanks to Union Budget 2021. Yep, Finance Minister Nirmala Sitharaman announced the new budget, policy, and initiatives for the country as we reel from the shock of the coronavirus pandemic. The slew of announcements also included some f...

URL copied Budget 2021: Gems and jewellery industry cheer decision to cut import duty on gold, silver The Modi government has announced a cut in the import duty on gold and silver, a move welcomed by the industry as it will bring down prices of precious metals in the domestic market and boost exports of gems and jewellery. Finance Minister Nirmala Sitharaman in her budget speech said that to bring the prices of precious metals closer to previous levels, the government will rationalise customs duty on gold and silver. Gold and silver presently attract a basic customs duty of 12.5 per...

Union Budget 2021: Hic, hic hooray! Alcohol prices won’t go up with the new cess Union Budget 2021: It was perceived that the imposition of the cess would lead to a 100 percent increase in the prices of alcoholic beverages. However, at the other end, the basic customs duty (BCD) of 150 percent on hard liquor has now been reduced to 50 percent. This means that the net impact on the price of the product would be zero. Beer did not get a customs duty cut, so the net impact on this beverage is also zero February 02, 2021 / 12:20 PM IST If you were planning to stock up on imported alcoholic ...

Thrust is on sustaining economic growth through infra spending Motilal Oswal× It is a great relief that there is neither a Covid tax nor surcharges on income tax Finance Minister Nirmala Sitharaman presented the third Budget of NDA 2.0 against the backdrop of pandemic-hit economy. There were hopes of Budget bringing in measures that would drive the economy – which the government clearly succeeded in doing. Key positives The government seemed fully prepared to back and facilitate a reset of the economy. Budget proposals seems positive as the thrust is clearly on sustaining the economic gro...